Newark, Oct. 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global medical laser systems market is expected to grow from USD 4.32 billion in 2021 to USD 16.20 billion by 2030, at a CAGR of 15.82% during the forecast period 2022-2030.
The rising incidences of eye disorders and improvements in medical infrastructures are anticipated to expand the demand for the medical laser systems enterprise during the projection period. Moreover, the increasing awareness about the security of these methods, rising application in the diagnostic field, and technological progress in the procedure are anticipated to drive growth over the forecast period. However, stringent safety limitations and a high failure rate hinder the market growth. Furthermore, the increase in the incidences of chronic diseases like obesity & diabetes is enhancing the sales & demand for medical lasers are opportunities for market growth.
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Medical Laser Systems Market Report Scope
| Report Attributes | Details |
| Market Size (2030) | Around $16.20 Billion |
| Market Size (2021) | $4.32 Billion |
| CAGR (2022-2030) | Over 15.82% |
| Base Year | 2021 |
| Forecast Year | 2022-2030 |
| Market Segments | Application, Product Type, End-User |
| Geographic Analysis | North America, Europe, South America, Asia Pacific, the Middle East, and Africa |
Competitive Strategy
To enhance their market position in the global medical laser systems market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in February 2020, IRIDEX Corporation Company, an ophthalmic laser-based medical instrument manufacturer, founded an upgraded version of its laser MicroPulse P3 machine to treat glaucoma that is anticipated to decrease intraocular pressure appropriate for glaucoma patients without incisions substantially.
Market Growth & Trends
The growth of the medical laser systems market is driven by the rising number of private hospitals and technological progress in laser-assisted appliances that support advanced treatments in healthcare amenities with decreased risk of post-procedural complications. Moreover, the increase in the demand for medical lasers is the market growth trend. This is due to the rising adoption of minimally and non-invasive methods to improve clinical outcomes. Further, there is an expansion in the usage of medical lasers due to minimal incisions, less pain, and faster recovery across the world. In addition, the increasing awareness among individuals about aesthetic methods like body contouring, dermal resurfacing, and acne prevention. This factor is also helping to drive the market growth.
Moreover, the key market participants are extensively investing in R&D activities to introduce a new low-level green laser for body fat reduction. This factor is propelling market growth. Additionally, vision-related problem has recently increased due to lifestyle changes and increased screen time. Medical laser treatment is used to correct eye power & restore vision. Moreover, the several industries undertaken by healthcare institutions to encourage medical tourism are also helping to propel market growth.
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Key Findings
• In 2021, the cosmetic/dermatology segment dominated the market with the largest market share of 21.23% and a market revenue of 0.91 billion.
The application segment is divided into ophthalmology, dentistry, cosmetic/dermatology, cardiovascular, cancer therapy, and others. In 2021, the cosmetic/dermatology segment dominated the market with the largest market share of 21.23% and a market revenue of 0.91 billion. This growth is attributed to the rising number of cosmetic surgeries.
• In 2021, the solid-state lasers segment dominated the market with the largest market share of 22.21% and a market revenue of 0.95 billion.
The product type segment is divided into solid-state lasers, gas lasers, fiber lasers, femtosecond lasers, diode lasers, and others. In 2021, the solid-state lasers segment dominated the market with the largest market share of 22.21% and a market revenue of 0.95 billion. This growth is attributed to the different benefits of solid-state lasers, like higher efficiency than gas lasers, the economical nature of solid-state lasers, and the simple construct compared to other lasers.
• In 2021, the hospital segment dominated the market with the largest market share of 40.12% and market revenue of 1.73 billion.
The end-user segment is divided into specialized clinics, ambulatory surgical centers, and hospitals. In 2021, the hospital's segment dominated the market with the largest market share of 40.12% and market revenue of 1.73 billion. This growth is attributed to the increasing cost of medical services.
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Regional Segment Analysis of the Medical Laser Systems Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global medical laser systems industry, with a market share of 48.32% and a market value of around 2.08 billion in 2021. North America dominates the medical laser systems market due to the high adoption rate of technologically advanced procedures. Moreover, the rising disposable income and increasing cases of age-related disorders and conditions are also helping drive the region's market growth. Further, the Asia-Pacific region is expected to show the fastest CAGR of 18.03% over the projection period. This growth is attributed to the country's increasing incidence of sensory organ-related disorders. In addition, the increasing awareness & volume of cosmetic surgeries and the presence of significant regional players are also driving the market growth in this region.
Key players operating in the global medical laser systems market are:
• Fujikura Ltd.
• LASOS Lasertechnik GmbH
• Alcon
• Modu-Laser
• Zeiss
• BIOLASE, Inc.
• Cynosure
• IRIDEX Corporation
• Bausch & Lomb
• Candela Corporation
• Lumenis
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global medical laser systems market based on below mentioned segments:
Global Medical Laser Systems Market by Application:
• Ophthalmology
• Dentistry
• Cosmetic/Dermatology
• Cardiovascular
• Cancer Therapy
• Others
Global Medical Laser Systems Market by Product Type:
• Solid-state Lasers
• Gas Lasers
• Fiber Lasers
• Femtosecond Lasers
• Diode Lasers
• Others
Global Medical Laser Systems Market by End-User:
• Specialized Clinics
• Ambulatory Surgical Centers
• Hospitals
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About the report:
The global medical laser systems market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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